Ethereum- Bearish scenario awaits us

Despite the spectacular growth when Ethereum rocketed from $190 to around $220 within a few days, it also faced a correction.
The leading altcoin touched the local highs at $218, however, the further rise is unlikely to happen as the MACD indicator is sharply going down. Moreover, the Fibonacci retracement shows that the next level for ETH is $199.61 (61.8%). If the decline continues, Ethereum might achieve the point of $193.85 (50%).